Legislation to suspend taxation on virtual assets and ease inheritance tax failed to reach an agreement between the ruling and opposition parties.

Major tax law amendments containing the government and the ruling party's demands, such as suspending the taxation of virtual assets and easing inheritance tax, failed to cross the threshold of the National Assembly's Strategy and Finance Committee due to the failure of the ruling and opposition parties to reach an agreement.

The secretaries of the ruling and opposition parties negotiated over the suspension of taxation on virtual assets, separate taxation on dividend income, and whether to cut the maximum inheritance tax rate, but failed to hold a general meeting with the tax subcommittee that had been scheduled because they could not narrow their differences.

These tax law amendments are subsidiary bills of revenue budget designated by National Assembly Speaker Woo Won-sik, and will be automatically submitted to the plenary session on the 1st of next month if the committee fails to complete its decision by tomorrow (30th).